External-Ashworth Relocation Letter Agreement

 

1.

Schawk will cover relocation expenses for your horse and two dogs.

 

2.

One time relocation bonus amount of $25,000 (net of taxes) within 30 days preceding your actual move.

 

3.

Schawk will pay you $118,200 due to the sale of your home without the aid of a real estate agent.  Dually executed contract must be provided.  This payment will be subject to applicable taxes and withholdings.

 

4.

Schawk will extend the buying assistance component of the relocation policy from 2 years into a third year if needed.  For the two year period from the date of the household move, Schawk will pay expenses direct billed from the vendor for home rental and storage fees up to $100,000 per 12 month period.  These amounts will be deducted from your Annual Incentive payment.  However, if due to company performance, there is no payout for the 2012 performance year, you will not be expected to repay the amount.

 

5.

If Schawk terminates your employment for reasons other than cause, Schawk will:

 

•

pay for your standard relocation back to San Francisco consistent with policy in place at that time;

 

•

provide you with 12 months severance (equal to one year of your annual base pay); and

 

•

fully subsidize your COBRA expenses for the 12 month period following your termination date.

Best Regards,

 

/s/Carol Campagnolo

Carol Campagnolo

SVP, Global Human Resources

Schawk, Inc.

 

1. The Company will pay on behalf of the Employee authorized relocation expenses associated with the relocation of the Employee from the San Francisco, CA to the Chicago, IL area.

 

2. The Company agrees that if the Employee remains employed with the Company or any affiliate of the Company for at least (12) full months from the date of this Agreement, the Employee will have no obligation to repay any of the relocation expenses.

 

3. The Employee agrees that if the Employee voluntarily cancels the move, or the Employee’s employment is terminated at the Employee’s initiative or for cause by the Company before the expiration of twelve (12) full months from the date of this Agreement, all relocation payments will cease and the Employee will repay to the Company the cost of the physical move and any relocation allowances, expense reimbursements and any other cost or expense paid or incurred by the company in connection with the Employee’s relocation.

 

4. The Employee agrees to make repayment in full of the amounts the Employee is obliged to repay under Paragraph 3 of this Agreement within sixty (60) days of demand.  The Employee agrees that the Company may set off any such amounts against any amount the Company owes the Employee on or after termination of employment, including, but not limited to, all bonuses, the Employee’s final paycheck or pay for unused vacation accrual.

By                                                                                                           (Company)

/s/Eric Ashworth                                                        

Eric Ashworth

5/1/12

        Date